Lease termination, as the name suggests, specifies that the rental agreement between the landlord and the tenant has come to an end. A lease termination form is a major document here which officially certifies that the lease contract has been terminated between the two parties. The form specifies that both the parties have agreed to terminate the rental contract and that the tenant has agreed to return the rented premise to the landlord, free of his goods, by the agreed date. You may also see Lease Renewal Forms
Sample Lease Cancellation and Termination Agreement
This form is needed when the landlord and the tenant have decided that the lease shall be cancelled and not be renewed further. The form would make such a decision official and release each other from all sorts of claims and obligations.
Lease Termination Agreement Form
This form is filled up by both the tenant and the landlord when both of them have mutually agreed upon the fact they do not want to renew the duration of the lease anymore.
Apartment Lease Termination Form
Forms of such kinds are used when the landlord has given an apartment for rent and now have to cancel the lease agreement with the tenant. The duration of the contract is basically decided upon from the beginning and thus the termination date also remains fixed from the beginning.
Sample Commercial Lease Termination Form
A commercial lease termination form is the most needed when a landlord has to terminate the rent agreement of his commercial space, that is presently being occupied by some professional organization.
Rental Lease Termination Form
This form is required t be filled up in case the tenant has decided to break the contract early. He might have to keep on paying the rent till a new tenant comes over and takes the place.
Sample Residential Lease Termination Form
This form is useful when a tenant occupying a residential space has decided to give minimum period of notice to the landlord while ending the tenancy. The form features the date of lease termination.
Early Lease Termination Form
This form is to be filled up by the tenant and the landlord both when the tenant wishes to make an early exit. He needs to make sure that the landlord is also okay with this early termination of a lease contract.
Notice of Termination for Non-payment of Rent
The landlord can use this form against the tenant if the latter has failed to pay the agreed rent. A notice of 7 days will be given to the tenant as a warning.
When is Lease Termination Form Needed?
A lease termination form is important when the tenant or the landlord or both want to end the rental contract. If one of the parties want to terminate the lease, he would send a unilateral termination notice to the other. If both the parties have agreed to end the agreement mutually, then both of them would sign a mutual termination contract. The form must include the date of vacating the property and the reason behind it. The landlord should make sure that the tenant has enough time in his hand so that he or she can make an alternate arrangement. Both the parties have to retain a copy of such a form. You can also see Lease Amendment Forms
What Happens if the Lease Termination Form is Not Used?
If you do not want to face the hassles of the court then do not risk it. The law acts in a very strict way if a tenant moves out of an apartment or a residency all of a sudden without informing the landlord in prior. Also it may happen that the landlord throws away its tenants illegally by without giving them any sort of an advanced warning. Such things can spoil a good relationship between two people and at times lands or spots of places are also lost. Law is there for a reason so make sure of the fact that you abide by it.
What Should You be Mentioning in a Lease Termination Form?
A lease termination form will mostly house the declaration that both the landlord and tenant have agreed to terminate the lease. There would be the mention of the date to vacate the property as well as the reason behind the termination of the contract. Then, the form would include the forwarding address where future notices or security deposit is to be sent in the name of the tenant. Besides, the lease termination form would house name, start plus end date of original rental agreement. Last but not the least, the form would include the name and signatures of both the parties involved in the agreement. Useful Housing Benefit Forms
What is the Purpose of a Lease Termination Form?
The basic purpose of a lease termination form is to make the whole process of lease termination process official, written and legal. This way, the landlord will have the right to charge the tenant if the latter unlawfully insists on staying in the property even after the vacate date- as mentioned in the lease termination agreement. Besides, by making everything official and formal, this form enables both the party to cut off tie in good terms. The agreement would further allow the landlord to start looking for new tenants for the place soon to be left free by the existing tenant. You may also see Rent Roll Forms
If you are a landlord looking to end the rental contract with your tenant, you must make the move official with a lease termination form. In case, you haven’t made such a form ever and need guidance on how to frame it, there are pre-designed and modifiable lease termination form templates to help you out.
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